The Adani Group is going to buy an Indian unit of Dubai -based real estate company Emar Group. The deal has been settled for $ 1.4 billion $ 12084 crore.
It is also being said that Adani Realty will also invest $ 400 million (about Rs 3453 crore) in this business. There is a discussion between the Adani Group and the Emar Group regarding this deal. Bloomberg said the deal would be finalized next month.
Negotiations have been going on since January.
The deal has been discussed between the Emar Group and the Adani Group since January. Emar Group does business under the name Emar India in India. Their business is spread over Delhi, Punjab, Uttar Pradesh, Madhya Pradesh and Rajasthan. Here also this company is working on commercial projects.
The company has built all the buildings except Burj Khalifa.
The company’s business, which started in 1997, is spread over 10 countries. He has built large buildings in many countries. The company has built the world’s largest and tallest building Burj Khalifa. He also built Dubai’s largest shopping mall, Dubai Mall. Apart from this, houses and shops have been built along the banks of Dubai Marina, Downtown Dubai’s base area, Palm Drive Emerald Hills in Bahrain, Creek Harbor, a tourist destination in Egypt, King Abdullah City and Dubai Hills Estate.
Adani Group’s real estate will be strong
The deal with Emmara Group will further strengthen the situation in Gautam Adani’s company’s realty sector. The Adani Group has a 24 million sq ft assets in the real estate business. The company is constructing 61 million sq ft area.
